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Dec 31, 2020
Armada Hoffler Q4 2020 Earnings Report
Reported net income of $0.02 per diluted share and normalized FFO of $0.25 per diluted share.
Key Takeaways
Armada Hoffler Properties reported Q4 2020 results with a net income of $0.02 per diluted share and normalized FFO of $0.25 per diluted share. The company also introduced 2021 full-year normalized FFO guidance of $0.98 to $1.02 per diluted share and increased the first quarter 2021 cash dividend on common shares over 36%.
Net income attributable to common stockholders and OP Unit holders was $1.9 million, or $0.02 per diluted share.
Funds from operations attributable to common stockholders and OP Unit holders (FFO) was $19.5 million, or $0.25 per diluted share.
Normalized funds from operations attributable to common stockholders and OP Unit holders (Normalized FFO) was $19.9 million, or $0.25 per diluted share.
Core operating property portfolio occupancy was at 94.4%.
Forward Guidance
The Company is introducing its 2021 full-year Normalized FFO guidance in the range of $0.98 to $1.02 per diluted share.
Positive Outlook
- Acquisition of Delray Beach Whole Foods in the first quarter
- New $23M preferred equity mezzanine loan for Solis Nexton beginning 2Q21
- Disposition of a Kroger-anchored shopping center in the second quarter for $5.5M
- Interest Expense is calculated based on Forward LIBOR Curve, which forecasts rates ending the year at 0.15%
- Opportunistic sale of common stock through the ATM program, resulting in a full year weighted average share count of 82.5M
Historical Earnings Impact
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Avg. Return Before/After Earnings
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